Number of traders net-short has decreased by 8.21% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| USD/CAD | BEARISH | 50.07% | 49.93% |
1.87% Daily 19.44% Weekly |
-5.47% Daily -8.21% Weekly |
-1.93% Daily 3.82% Weekly |
USD/CAD: Retail trader data shows 50.07% of traders are net-long with the ratio of traders long to short at 1.00 to 1. In fact, traders have remained net-long since Sep 13 when USD/CAD traded near 1.32, price has moved 2.63% higher since then. The number of traders net-long is 1.87% higher than yesterday and 19.44% higher from last week, while the number of traders net-short is 5.47% lower than yesterday and 8.21% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests USD/CAD prices may continue to fall.
Our data shows traders are now net-long USD/CAD for the first time since Sep 13, 2022 when USD/CAD traded near 1.32. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USD/CAD-bearish contrarian trading bias.